At a Glance
- Tasks: Lead underwriting profitability and performance management for a diverse portfolio.
- Company: Specialty insurance group with a focus on innovation and excellence.
- Benefits: Competitive salary, bonus, and comprehensive benefits package.
- Other info: Opportunity for career advancement in a dynamic environment.
- Why this job: Make a significant impact in the insurance industry with your expertise.
- Qualifications: 15+ years of underwriting experience and strong analytical skills.
The predicted salary is between 58540 - 71548 £ per year.
Circa £130k - £190k plus bonus plus benefits
Location: London
Reporting to: Chief Underwriting Officer
Our client, a specialty insurance group, is looking for an experienced Portfolio Underwriting Manager to take ownership of the underwriting profitability of its portfolio. Working closely with the CUO, you will lead the selection, monitoring and performance management of the MGAs and classes of business the company underwrites.
The Role
- Conduct technical due diligence on around 20 MGAs, including evaluation of product design and distribution, underwriting risks and controls, historical performance, and the technical capability of MGA underwriting teams.
- Review and approve underwriting guidelines, pricing models, underwriting authority structures, and parameters for Binding Authority Agreements.
- Own monthly, quarterly and annual performance monitoring across the portfolio.
- Oversee MGA performance and KPIs, including pricing adequacy, adherence to Binding Authority Agreements, ultimate loss ratio and performance mix.
- Partner with MGAs and reinsurers on portfolio enhancements covering mix, pricing, product and terms and conditions.
- Lead technical audits across all classes of business.
- Manage exposure at class, product, geography, risk and peril level, coordinating with third-party catastrophe modellers on 1-in-250 and 1-in-500 year PML assessments as required.
- Review reinsurance arrangements alongside the Reinsurance Placement Officer and liaise with reinsurers on performance and MGA management.
- Run quarterly performance reviews with the actuarial and finance teams.
- Work with Program Managers on underwriting requirements.
About You
Essential:
- Proven class underwriting experience (e.g. Property, Casualty, Financial Lines, Aviation, Marine).
- At least 15 years of underwriting and performance management experience.
- Strong portfolio management and analytical capability.
- Experience with reinsurance structures and arrangements.
- Current, actively maintained knowledge of underwriting best practice in pricing and risk selection.
Desirable:
- Underwriting experience gained at an insurer and/or an MGA.
- Depth of knowledge across multiple classes of business.
- Prior experience in a Portfolio Management or Underwriting Management role.
- Familiarity with, or exposure to, reinsurance.
For more information please apply to Ian at IDEX.
Portfolio Underwriting Manager in City of London employer: IDEX Consulting Ltd
As a leading specialty insurance group based in London, we pride ourselves on fostering a dynamic work environment that encourages innovation and professional growth. Our commitment to employee development is reflected in our comprehensive benefits package and supportive culture, where collaboration and excellence are at the forefront. Join us to take your career to new heights while making a meaningful impact in the insurance industry.
StudySmarter Expert Advice🤫
We think this is how you could land Portfolio Underwriting Manager in City of London
✨Dive Into Industry Networking Events
Get your foot in the door by attending insurance industry events and conferences. Not only will you learn about the latest trends, but you'll also meet potential employers and industry peers. Check out local chapters of professional bodies like the Chartered Insurance Institute for valuable meetups.
✨Use LinkedIn to Your Advantage
Don’t underestimate the power of LinkedIn in the insurance world. Engage with industry content, join relevant groups, and connect with professionals at companies you admire (like IDEX Consulting Ltd). A thoughtful message explaining your interest can really make a difference!
✨Look Out for Graduate Schemes
Many firms in insurance have structured graduate programmes. Keep an eye on application windows and utilise your university's career services for insider tips. These schemes are designed to develop talent and often lead to permanent roles after your initial training.
✨Leverage Your Current Connections
Got friends or family in the industry? Now’s the time to reach out! Personal referrals can give you a head start, so let them know you're on the lookout for full-time opportunities at places like IDEX Consulting Ltd. Don’t shy away from asking for a coffee chat; you never know what doors it might open!
We think you need these skills to ace Portfolio Underwriting Manager in City of London
Some tips for your application 🫡
Highlight Your Analytical Skills:In insurance, we love a candidate who can crunch numbers and analyse data effectively. When crafting your CV, make sure to showcase any relevant coursework or experiences that highlight your analytical abilities, especially if you’ve tackled risk assessment or financial modelling.
Showcase Industry Knowledge:Don’t be shy about your knowledge of the insurance sector! We want to see that you've done your homework on current trends, regulations, and challenges in the industry. Mention any relevant projects or studies you’ve completed that demonstrate your understanding of the field in your cover letter.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about insurance. Share any personal experiences or what drew you into this profession. We’re looking for enthusiasm and a clear motivation for why you want to be part of our team at IDEX Consulting Ltd.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at IDEX Consulting Ltd. Highlight relevant skills such as risk management, customer service experience, or any certifications you've earned in the industry to make your application stand out.
How to prepare for a job interview at IDEX Consulting Ltd
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at IDEX Consulting Ltd to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
✨Showcase Your Analytical Side
In the insurance world, it's all about data. Prepare to discuss any analytical tools or methodologies you've used in past experiences. If you have a portfolio of projects where you've tackled complex data, bring that along to impress the team!
✨Prepare for Behavioural Questions
As a full-timer at IDEX Consulting Ltd, they'll want to know how you handle real-life scenarios, not just theory. Think about challenges you've faced in teamwork or customer service, and how those experiences can relate to a career in insurance.
✨Know the Company Culture Inside Out
Understanding IDEX Consulting Ltd's values and workplace culture is essential. Don’t just memorise their mission statement; think about how your personal values align with theirs. This will show your genuine interest in being part of their team long-term.
